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[Seoulz] Best Entrepreneurial Program in Korea KUBS Startup Station
Jun 21, 2019
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Best Entrepreneurial Program in Korea KUBS Startup Station
 
June 19, 2019 | In News, Editorial | By John

As more and more students in Korea pursue entrepreneurship, more universities in Korea are creating accelerator and incubator programs to support them.  The trend comes as Korea the total number of investments into Korean startups reached a record high in 2018.  A total of 3.43 trillion won ($3 Million) was invested in startups in 2018.  This amount was up almost 45% from the previous year, according to the data from the Ministry of SMEs and startups.  KUBS Startup Station at Korea University runs one of the best incubation programs in Korea.  The program does a great job of nurturing entrepreneurship skills that will help the next generation thrive in innovation and digital expertise.
 

The rise of venture investments in Korea is in line with the Korean government’s push to develop new growth industries and to help support the Korean startup ecosystem.  Moon Jae-in launched the SMEs ministry in 2017 which focused on innovation growth in Korea.  Therefore, the ministry will give 1 trillion won ($840 Million) in venture funding in 2019.  In addition, South Korea is desperate for innovative and versatile talent.  Therefore, entrepreneurship is critical not only to benefit students in Korea but also to help the Korean economy by creating jobs and driving economic growth.  Let us take a closer look at the best entrepreneurial program in Korea, KUBS Startup Station.

KUBS Startup Station comprises two centers: Seung Myung-Ho Center for Entrepreneurship Education
 
This center is for entrepreneurship education.  It provides educational programs focused on startups and entrepreneurship.  Furthermore, the Center holds a biannual venture contest called Startup Express.  Aspiring entrepreneurs first need to propose an innovative business idea.  Their team must have at least one current student or graduate (including graduate students) of Korea University Business School. Startup Express gets around 40-50 submissions per semester and only 4-5 teams get selected.  Expert judges review these submissions.  Then they each are provided office space at the Iljin Center for Startup Incubation, operation budget grant, and a variety of support to start their business.

“I hope that you look far and wide, rather than being satisfied with the status quo.  This is tied to the mission of KUBS Startup Station.  Find work you love and challenge with your heart and soul.  Sometimes, you need to boldly choose and concentrate."
President of Donghwa Group, Myung-Ho Seung

Iljin Center for Startup Incubation
This is a center for startup incubation.  It offers a wide range of services, office spaces, mentoring, and networking programs for student entrepreneurs.  Furthermore, the center also holds a biannual startup demo day event called “Choo Choo Day.”  This demo day is hosted by KUBS Startup Station to support startups to successfully find its place in the market.  KUBS has a train motif to show that they are pioneers of the Fourth Industrial Revolution.  In addition, at the Iljin Center for Startup Incubation, teams will get support from mentors and will get a chance to showcase their products/services and their business model to investors, company representatives, and media for future communication and networking.

“I hope that the newly opened KUBS Startup Station becomes home to entrepreneurs with integrated thinking skills.  I believe our students will find opportunities for success through the fearless challenge.”   
President of Iljin Group Sangil Lee

Benefits of KUBS Startup Station
  • Mentor Network consisting of entrepreneurs, industry experts, and venture capitalists
  • Communication with investors and business experts
  • Sharing experience through startup networks
  • External consulting services
  • Partnership with industrial leaders including Samil PwC, Kim & Chang, Amazon Web Service, and CROWDY
  • Designated seats for each startup team
  • Convenient facilities including meeting rooms and lockers
  • Space rental services for entrepreneurship-related seminars and lectures
  • Multi-purpose rooms for future entrepreneurs
  • Series of inspiring lectures on entrepreneurship and innovation
  • Series of practical lectures for startups including law, tax/accounting, pr/marketing, and UX/UI

Connecting Present and Future Young Entrepreneurs in Korea

KUBS Startup Station connects startups and entrepreneurs in Korea.  Startup teams are working and growing together with other Korean companies that support each other’s innovative values.  Therefore, young and innovative entrepreneurs in Korea share their knowledge and know-how without boundaries at KUBS Startup Station.  Furthermore, they also have great alumni who have pioneered entrepreneurship in Korea.  They understand the purpose of KUBS Startup Station and fully support young entrepreneurs taking on new challenges.

Korea needs more problem-solvers who are creative, flexible, and entrepreneurial in their thinking.  Therefore, entrepreneurial programs like KUBS offer a space to explore a range of options, giving them the chance to grow and expand their minds and develop critical thinking.  Furthermore, expect to see more and more entrepreneur programs like KUBS represent at least a part of future education in Korea.  In addition, their ultimate goal is to create a startup ecosystem where young entrepreneurs can optimize themselves for their future.
 
“KUBS Startup Station wants to create a startup ecosystem community that connects entrepreneurs in Korea so they can support each other and learn from each other”  Shijin Yoo, Director at KUBS Startup Station

The Future of Entrepreneurship in Korea
Korea needs more entrepreneurship programs like KUBS Startup Station.  Furthermore, entrepreneurship does not just mean starting your own company.  Koreans that will choose traditional office jobs for Korean corporations can learn a lot from these programs.  Therefore, the goal of programs like this to let students have the training, resources, and access to either find or create meaningful, well-paid work.  To become great partners and leaders.  Furthermore, to become contributing members of their communities and their society.  Therefore, let’s give every Korean student the preparation they need so they can help to solve the problems of the future.